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Business Fundamentals

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Questions and Answers

Which of the following is a description of a business model?

Aspects of a product or service that makes it more appealing to target customers

A profit-seeking organization that provides goods and services

The money that a company brings in through the sale of goods and services

A description of how the business intends to generate revenue (correct)

What is the definition of competitive advantage?

Aspects of a product or service that makes it more appealing to target customers (correct)

A profit-seeking organization that provides goods and services

A description of how the business intends to generate revenue

The money that a company brings in through the sale of goods and services

Which type of organization provides goods and services without seeking to make a profit?

Nonprofit organizations (correct)

Firm

Service businesses

Goods-producing businesses

What does the term 'geographic reach' refer to?

The extent to which a business operates locally, regionally, nationally, or internationally Signup and view all the answers

Which type of ownership typically has several owners?

Partnerships Signup and view all the answers

Which type of organization seeks to make a profit?

Public corporations Signup and view all the answers

What is the purpose of a business model?

To generate revenue Signup and view all the answers

What is the definition of competitive advantage?

The aspects of a product or service that makes it more appealing to target customers Signup and view all the answers

What type of ownership has one owner?

Sole proprietorships Signup and view all the answers

What does the term 'geographic reach' refer to?

The extent to which a business operates locally, regionally, nationally, or internationally Signup and view all the answers

Business Fundamentals

Choose a study mode

Podcast

Questions and Answers

Which of the following is a description of a business model?

What is the definition of competitive advantage?

Which type of organization provides goods and services without seeking to make a profit?

What does the term 'geographic reach' refer to?

Which type of ownership typically has several owners?

Which type of organization seeks to make a profit?

What is the purpose of a business model?

What is the definition of competitive advantage?

What type of ownership has one owner?

What does the term 'geographic reach' refer to?

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